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© VALUENEX 2017 in te l lec tua l innovator 1
Tatsuo NakamuraCEO & FounderVALUENEX, Inc.
Navigate the Ocean of Big DataHarness the power of Panoramic View Analytics
サステイナブルM&Aを実現するには？俯瞰解析指標を用いた最適投資額の推計モデルの構築
知的財産戦略本部 御中知財のビジネス価値評価検討タスクフォース(第2回)2017/12/19
Data Fusion and Chemistry
© VALUENEX 2017 in te l lec tua l innovator 2
Methods
Legal Products Market Finance
Patents Release Info. CustomerVoice
FinancialInfo.
R&D
TechnicalInformation
Analytics
What is VALUENEX?
© VALUENEX 2017 in te l lec tua l innovator 3
Valuenex is a data analytics company focusing on strategy development and decisionguidance, performing 100+ consultation projects per year to leading companies and publicinstitutions, and analytics platform licensor.
Importance of Technology Information AnalysisThere are various technology information analyses according R&D and IP cycles.
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Basic / ApplicationResearch
DevelopmentDesign
ProductionCommercialization
MarketingSales
Technology trend analysis
Collection search
Prior art search (Pre-filing search)
Invalidity search
Clearance search, FTO
Technologyassessment
R&D cycle
TechnologyInformationResearch /Analysis
Figure: Relationship among IP, R&D and technology information research / analysisRef: Atsushi Nozaki: Patent Research and Search Technique (2015) [Japanese]
Creating inventionsMaking IP strategy
Protecting inventionsFiling, Rights, Patent portfolio
Utilizing inventionsOne’s usage, LicensingIP cycle
© VALUENEX 2017 in te l lec tua l innovator
What is Panoramic View Analytics?
BIG DATA CLUSTERING VISUALISATION ANALYTICS
Proven scientific methods that allow the user to “see and understand” the entirety oflarge amounts of data rather than “search and reading” of individual pieces of data.
Clustering docs by calculatingsimilarities among them
Visualization of the similarityamong docs
Original indicators for miningand insight
Patents / Research Papers / SNSNews / Annual Reports, etc.
© VALUENEX 2017 in te l lec tua l innovator 5
What is Panoramic View Analytics?You can get insight for strategy-making by analyzing output (distance, density, whitespace, distribution, etc.) of the radar chart.
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The size of each cluster isproportional to the number ofdocuments in it.
The distance between clustersindicates the similarities betweenthem.
The axes have no particular meaning.
Each circle is called a cluster.They contain similar documents.
© VALUENEX 2017 in te l lec tua l innovator
HIGH DENSITY
LOW DENSITY
TREND LINE
CENTER OF GRAVITY
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From IP Panoramic View Analytics to StrategyQuantitative evaluation and visualization of technical affinity (relationship) betweencompanies are highly valuable.
© VALUENEX 2017 in te l lec tua l innovator
Evolution of Foxconn into Sharp’s Tech Arena
© VALUENEX 2017 in te l lec tua l innovator 8
Insight into Softbank’s IP Strategy
© VALUENEX 2017 in te l lec tua l innovator 9
Predictive Modeling of Tech Convergence
© VALUENEX 2017 in te l lec tua l innovator 10
Alibaba’s pre-IPO Portfolio Boost
© VALUENEX 2017 in te l lec tua l innovator 11
Determining Adequate INVESTMENTvalues for m&As
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View Points for Successful M&As
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CATEGORY VIEW POINT CURRENT DUE DILIGENCENEW MODEL WITHPANORAMIC VIEW
ANALYSIS
Management Synergy Management PolicyCorporate culture ●
Business SynergyBusiness sizeMarket field
Market share● ●
Technological SynergyR&D size
Technological fieldTechnological portfolio
〇 ●
Investing in Tech Companies requires thorough evaluation of technologicalsynergy.
Estimating Investment Amount in Pharma M&As
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0
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20,000
30,000
40,000
50,000
60,000
70,000
0 10,000 20,000 30,000 40,000 50,000 60,000 70,000
Rea
lDea
lVal
ue
Estimated Value
Multiple Correlation Coefficient: R = 0.893
Over-valued Under-valued
© VALUENEX 2017
Actual Deal Value vs. Estimated Value
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NO. NAME DEAL VALUE(USD M)
ESTIMATEDVALUE DIFFERENCE
1 Merck & Co/Schering-Plough 43,198 51,657 -8,4592 Pfizer/Wyeth 65,016 62,193 2,8233 Roche/Genentech (44.2% Stake) 44,291 38,106 6,1854 Novartis/Alcon (52% Stake) 25,750 40,067 -14,3175 Sanofi/Genzyme 19,479 21,397 -1,9186 Abbott Laboratories/AbbVie 54,376 50,383 3,9937 Actavis/Allergan 63,199 57,308 5,8918 Allergan/Forest Laboratories 23,126 24,767 -1,6419 AbbVie/Pharmacyclics 19,045 20,741 -1,69610 Baxter International/Baxalta (80.5% Stake) 17,895 26,820 -8,92511 Pfizer/Hospira 16,323 26,536 -10,21312 Teva/Allergan (generics) 39,633 29,602 10,03113 Valeant Pharmaceuticals/Salix Pharmaceuticals 15,302 12,527 2,77514 Shire/Baxalta 35,219 29,920 5,29915 Johnson & Johnson/Actelion 29,592 19,421 10,171
under valued
under valuedover valued
over valued
© VALUENEX 2017
Importance of Technology Information Analysis
16Ref: http://www.jpo.go.jp/shiryou/toushin/nenji/nenpou2004_pdf/honbun/3-1-2.pdf
© VALUENEX 2017 in te l lec tua l innovator
BusinessStrategy R&D Strategy
IntellectualProperty Strategy
• Utilizing IP/technology information formaking business strategies, such as newbusiness development, businesscollaboration, etc.
• Acquiring rights from view points of attack,defense, and prevention based onbusiness strategy.
• Utilizing IP/technology information foranalyzing one’s technology capabilities anddeciding R&D focus.
• Utilizing IP/technology information forselecting partners for R&D collaboration.
• Acquiring rights strategically forstandardization of one’s technology.
• Preliminary survey• Prior art search (R&D, filing, application for examination, etc.)• Other company trend survey (Making patent map etc.)
• Acquiring rights (filing patent, trade secret)• Protection and utilization of rights (own monopoly, license, measures against counterfeit
products and management of technology / know-how in foreign markets)
IP / TechnologyInformation Analysis
ManagementStrategyFigure: Relationship among 3 types of
management strategies
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